Zheleznyak announces the scheduled date for the Drops Competition
Get Ready for Some Financial Discussion 💼
The Lowdown:
According to Yaroslav Zheleznyak, the deputy chairman of the parliamentary financial committee, an upcoming meeting will delve into the use of peer-to-peer (P2P) transfers on illicit markets, with a particular focus on payments in unlawful casinos. Additionally, they'll discuss the National Bank's initiative to limit card-to-card transactions.
Quick Facts:
Zheleznyak previously deemed P2P transfers one of the primary channels for black-market gambling operations. He also pointed out that the infamous "dropping" scheme isn't exclusive to the illegal gambling sector—it's a popular tool among various criminal activities.
Here's the Scoop: 📣
Card-to-card transfer restrictions were set to expire on March 31, 2025, after a six-month implementation period. This measure, active from October 1, 2024, to March 31, 2025, aims at curbing illegal financial activities. Although the National Bank hasn't explicitly mentioned casinos in this context, the restrictions are intended to combat financial crimes on various illicit markets.
Meanwhile, the Ukrainian authorities have been busy taking down financial "drops" used for illicit transactions and enforced stricter penalties for payment system violations. The National Bank proposed creating a register for enhanced transaction monitoring to further combat financial crimes.
Keep Your Eyes Peeled: 👀
The National Bank is also working on integrating Ukraine's payment system with the EU's SEPA system and has implemented 24/7 interbank payment processing. These moves signal the country's commitment to balancing financial security with market liberalization.
So buckle up, folks, as the financial landscape continues to evolve!
- Yaroslav Zheleznyak, the deputy chairman of the parliamentary financial committee, has highlighted the use of peer-to-peer (P2P) transfers in illicit markets, particularly in unlawful casinos, as a topic for an upcoming meeting.
- Zheleznyak previously identified P2P transfers as a major conduit for black-market gambling operations and emphasized that the "dropping" scheme, a notorious tool among criminal activities, isn't limited to the illegal gambling sector.
- The National Bank's initiative to limit card-to-card transactions aimed at curbing illegal financial activities, set to expire on March 31, 2025, colloquially known as card-to-card transfer restrictions, is geared towards combating financial crimes on various illicit markets, even though casinos haven't been explicitly mentioned.
- The Ukrainian authorities are actively taking down financial "drops" used for illicit transactions and enforcing stricter penalties for payment system violations, in addition to proposing the creation of a register for enhanced transaction monitoring to combat financial crimes more effectively.
- The National Bank's moves towards integrating Ukraine's payment system with the EU's SEPA system and implementing 24/7 interbank payment processing signal the country's commitment to balancing financial security with market liberalization within the general-news and crime-and-justice sectors of the business and finance industry.
